New round of tariffs targets $200 billion of Chinese goods

11 July, 2018, 08:10 | Author: Clarence Schmidt

The office of US Trade Representative Robert Lighthizer has released a list of Chinese products, running to nearly 200 pages, that will potentially be hit with a 10 per cent import tax as early as September.

On Tuesday, the Office of the US Trade Representative proposed 10 percent tariffs on a list of 6,031 Chinese product lines.

The move would be the latest in the escalating trade skirmish between the world's two biggest economies.

The Trump administration raised the stakes in its trade dispute with China on Tuesday, saying it would slap 10 percent tariffs on an extra $200 billion worth of Chinese imports.

USTR will hold hearings in late August on the list of targeted products, and an administration official said it would take about two months to finalize, at which point Trump would decide whether to go ahead with the tariffs.

The US Trade Representative released a new round of proposed tariffs on Chinese goods, listing 200 pages of items with a value of US$200 billion. Much of what the U.S. imports from China is apparel, handbags, shoes and electronics - products that were largely spared in earlier tariff lists.

The White House has complained that China has used predatory practices in a relentless push to grant Chinese companies an unfair advantage in the industries of the future, including robotics, electric cars and biopharmaceuticals.

The trade confrontation between Washington and Beijing has been escalating for months, despite Trump's repeated statements that he has a good relationship with China's President Xi Jinping.

To argue their case against tariffs, consumer companies' playbook has included pointing to higher costs for everyday goods, while laying the blame at the president's feet - the American Apparel and Footwear Association has dubbed the tariffs the "Trump tax". "For over a year, the Trump Administration has patiently urged China to stop its unfair practices, open its market, and engage in true market competition", Lighthizer said. The official added that China has warned the US that future actions would be met with "economic attacks" on American markets.

A senior administration official told Fox News that China has been "non-responsive" to USA actions and has insisted that Beijing does not see any way America has been hurt by Chinese policies.

The U.S. Chamber of Commerce, which has supported Trump's tax cuts and efforts to reduce regulation of businesses, also criticized the administration's move.

According to the Ministry of Commerce, China considered the substitution of imports and the overall impact on trade and investment while making up a list of U.S. goods hit by import duties.

Trade war with the world: United States tariffs on aluminum and steel from Canada, the European Union and other countries have also triggered retaliatory tariffs on USA goods.

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